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Dolat Capital Report
Metropolis Healthcare Ltd. has completed the 100% acquisition of Hitech Diagnostics Labs for a cash consideration of Rs 6.4 billion (funded via internal accrual and debt of Rs 3 billion at 5% cost of capital), implying valuation of five times FY21 sales and 13 times Ebitda FY21.
The deal, earlier in January 2021 was at Rs 6.2 billion (Rs 5.1 billion cash, 0.5 million share issuance), implied seven times FY20 sales and 30 times FY20 Ebitda).
The acquisition strengthens Metropolis Healthcare's leadership position in Chennai, particularly in the business-to-consumer segment.
The company also has presence in Bangalore and other regions of Tamil Nadu, Karnataka and Kerala with a network of 31 laboratories and 68 collection centers.
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